Is 07462, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 07462 was a Seller's Market.
Key Takeaway
07462 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07462, NJ
How much do homes in 07462, NJ cost?
Median Sold Price
$251,000
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 07462 have sold for 14.1% more than they did a year ago.
Summary: The median home sold price in 07462 was $251,000 in April 2024, up 14.1% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | $155K | +6.9% |
| 2 Bedrooms | $202K | $239K | +18.3% |
| 3 Bedrooms | $280K | $320K | +14.3% |
| 4 Bedrooms | $425K | $421.5K | -0.8% |
| 5+ Bedrooms | $575K | $487.5K | -15.2% |
Summary: 07462 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.9%, 2 bedroom homes increased by 18.3%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes decreased by 15.2%.
Housing Supply in 07462, NJ
How many homes are available in 07462, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 82 | 94 | +14.6% |
Summary: The 07462 real estate market had 94 homes for sale in April 2024, a 14.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 19 | 25 | +31.6% |
| 2 Bedrooms | 31 | 29 | -6.5% |
| 3 Bedrooms | 25 | 29 | +16.0% |
| 4 Bedrooms | 7 | 11 | +57.1% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 07462 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 31.6%, 2 bedroom homes decreased by 6.5%, 3 bedroom homes increased by 16%, 4 bedroom homes increased by 57.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 8 | -52.9% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07462, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in 07462 in April 2024, down by 52.9% month-over-month. Of the 8 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for 07462, NJ
We’re sorry, we don't have information for this market at the moment
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.